Zombie mortgages "are second mortgages (home equity loans ... modified or discharged in bankruptcy," said U.S. News & World Report. But in a plot twist down the road, "debt collectors are ...

“Many property owners were under the impression that by including the second mortgage in a bankruptcy, they were no longer responsible for it,” Jones says. “They keep the first ...

$340,000 – $250,00 first mortgage balance = $90,000 in equity This shows that the homeowner can apply for a closed-end second mortgage up to $90,000. Story Continues ...

Exactly what happens to your mortgage if you file ... broker and owner of Future First Lending, based in Tustin, California.